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Triangle Capital Corporation Reports Third Quarter 2013 Results

Net investment income during the third quarter of 2013 was $16.8 million, compared to net investment income of $15.9 million for the third quarter of 2012, representing an increase of 5.7%. The Company's net investment income per share during the third quarter of 2013 was $0.61 based on a weighted average share count of 27.6 million, as compared to $0.58 per share during the third quarter of 2012, based on a weighted average share count of 27.3 million.

The Company's net increase in net assets resulting from operations was $23.2 million during the third quarter of 2013, as compared to a net increase in net assets resulting from operations of $16.2 million during the third quarter of 2012. The Company's net increase in net assets resulting from operations was $0.84 per share during the third quarter of 2013 based on a weighted average share count of 27.6 million, as compared to a net increase in net assets resulting from operations of $0.59 per share during the third quarter of 2012, based on a weighted average share count of 27.3 million.

The Company's net asset value, or NAV, per share at September 30, 2013, was $15.94 as compared to $15.30 per share at December 31, 2012. As of September 30, 2013, the Company's weighted average yield on its outstanding, currently yielding, debt investments was approximately 14.3%.

Liquidity and Capital Resources

Commenting on the Company's liquidity position, Steven C. Lilly, Chief Financial Officer, stated, "Triangle is fortunate to be in an excellent position from a liquidity standpoint. With almost $350 million of available capital, we have the ability to meaningfully grow our investment portfolio over the near to intermediate term."

At September 30, 2013, the Company had cash and cash equivalents totaling $160.0 million.

As of September 30, 2013, the Company had $11.6 million in borrowings outstanding under its $165.0 million credit facility.

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